All Forum Posts by: Angela Yan

@Luke Andersen. I bought a 9 unit, 4 unit, duplex, SFR and just picked up another SFR in columbus ohio. I was just there last week bringing a friend who is a RE agent along with being an architect. When i showed him my $40k house i just picked up, he asked if he can go in on it with me. So hit me up if you want to learn more. In columbus there is still a bit of a cashflow play and appreciation as well with basically small amount of money.

I have offered $1000 for my tenant to move out in one week.  She still refuse as she just didn’t have the bandwidth for it. But i think in reality if paying $1000 helps this tenant out and it is small amount for large gain, you can try it.  

You seem really thorough to me and got all the basis cover.  It is such a hot seller’s market so if you can get away with all those contingencies.  Bravo!  Congrats.  But i am sure your bank will require your private inspection and appraisal right? 

It is such a seller’s market right now.  I think it is way easier to sell a place than to be a buyer’s agent.  Certainly don’t be afraid to ask for the discount.  Perhaps see if the listing agent will take 2 or 2.5 and the buyer gets 3?  Or 2.5 and 2.5 i think is reasonable. Especially if you are 1031 exchanging and may use them again.  

Just got back from visiting my portfolio in Columbus ohio and couldn't be happier with my decision in investing there 2018. My neighborhood is becoming up and up along with the whole town. He entry pricing is still affordable compare to the whole country. I picked up a $40k house and it will need about $100k rehab and will ARV $240k when done.

@Timothy Lewis. you are so right. as long as you picked a great property with appreciation play, i think it is worth a few years of negative cashflow, slight one to see future gains.  Times are tough when it is a robust seller's market. A smart investor needs to be creative with renovations.  

Hi!  

I have been approached on getting my business credit increased for $3500 for the year.  They promised first year 0 interest for loans anywhere from $50 to $250k with their advisors.  Anyone have experience with increasing their business line and utilized this? I have excellent credit but certainly have never paid attention to the business side.  They got some big name investors endorsing this but would like to hear from other's advice and experience. 

@Matthew Irish-Jones So true regarding the core 4 plus 1, the insurance agent. I stuck to one market that i learned to know well in Columbus Ohio. I have gotten this far with BRRRR strategy because i trust them and have systems in place that they check on each other. There are so many elements that can go wrong regarding BRRRR if not set up appropriately. My team took many years to set up with a lot of phone calls and relationship built over time demonstrating that i am an investor that knows the market, self independent, and will close with jobs paid. It is certainly not for a novice as i have paid those sort of tuition in the past with some mistakes but i got back on the BRRRR horse again and so far, so good. Thanks for such an insightful feedback.

@Rob Pattison

I love your dream and certainly is the dream of my best friend that is currently doing this with a 6 bedroom resort 6 mins walk to the beach. It has been 2 years and still labor of love, of course Covid puts a wrench in things. It was one discovery after another when dealing with an older home, nothing is updated and they found their $550k investment turning into $1.5 mil, they have yet to fully open doors. Not really saying this is completely your case but $20k sounds really low to me with older home. Everything needs to be shipped to CR. It takes time to get supplies as it is on order. T ico tica work on their own time. But if you invest enough money you will be on a path to residency which is real cool. Good luck.

@Nicole Heasley Beitenman so true! My “sell” button is broken on my investment properties. I love renovating to value add.